Trying to invest in the next big thing can end up costing you a lot of money.

And that's why speculative investors should only risk money they are willing to lose, according to media mogul Gary Vaynerchuk, who also goes by the name Gary Vee.

Vaynerchuk was an early investor in companies such as Uber and Snapchat and has recently advocated for investing in sports cards and cryptocurrency.

Check out this video to learn Vaynerchuk's four rules for investing.

More from Invest in You:
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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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